BCN - Beacon Minerals

[edison]

Level 2, 46 Ord Street West Perth WA 6005 P – 08 9476 9200 F – 08 9476 9099 E – admin@beaconminerals.com
www.beaconminerals.com
ASX ANNOUNCEMENT
22 January 2007
The Manager
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam

BARLEE URANIUM TARGETS IDENTIFIED HIGHLIGHTS

• Multiple uranium anomalies identified within 16km long calcrete
drainage system at Barlee
• Strongest target, the Mondie 1 anomaly is over 2000m x 500m in size
• Beacon to continue exploration to define and test mineralisation

Beacon Minerals Ltd (ASX:BCN) has identified several uranium anomalies within a large calcrete drainage system at its Barlee Project, 200km north of Southern Cross in Western Australia.
The largest of the identified anomalies, Mondie 1, is over 2000m x 500m. All anomalies are hosted in an extensive drainage channel over 16km long and up to 2km wide.
Beacon intends to advance the Mondie uranium anomalies through further exploration and will consider future development options once the extent of the uranium mineralisation at the Mondie anomalies has been defined and tested.
Calcrete-hosted uranium deposits generally occur as shallow, 2-6m thick layers hosted in calcrete or playa/salt lake sediments. Better known examples of calcrete-hosted systems of this type include Yeelirrie (35Mt @ 1.5kg/t U3O8 ) and Lake Maitland (32Mt @ 0.33 kg/t U3O8).
www.beaconminerals.com
Attachment: Map of radiometric survey from Barlee Project showing the locations of Mondie anomalies in relation to calcrete drainage system.
For further information contact:
Media Enquiries
Lyle Thorne Tony Dawe
Managing Director Dawe Media Group
9316 4532 041 33 22 110
www.beaconminerals.com
In accordance with Listing Rules 5.6 of the Australian Stock Exchange, the technical information contained in this report has been compiled by Mr. Lyle Thorne, a full time employee of Beacon Minerals Ltd. Mr. Thorne is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has the relevant experience with the mineralisation reported on to qualify as a Competent Person as defined by the Australasian Code for Reporting of Mineral Resources and Reserves. Mr. Thorne consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
www.beaconminerals.com

[edison]

Earlier announcements (last week)
_______________________________________________

A – Level 2, 46 Ord Street West Perth WA 6005 P – 08 9476 9200 F – 08 9476 9099 E – admin@beaconminerals.com
www.beaconminerals.com
ASX ANNOUNCEMENT
16 January 2007
The Manager
Company Announcements Office
Australian Stock Exchange Limited
4th Floor, 20 Bridge Street
SYDNEY NSW 2000
Dear Sir/Madam

POTENTIAL FOR LARGE MINERALISED SYSTEMS AT GREENVALE CONFIRMED

HIGHLIGHTS
• Cockie Trend highly prospective for large Cu-Au-Ag mineralised systems,
• New zinc-cobalt-copper discovery at Corella anomaly,
• Regional exploration program highly encouraging
Beacon Minerals Ltd (ASX Code: BCN) is pleased to announce that the results from a regional soil
sampling program at its Greenvale Project (Beacon 100%) in North Queensland, confirms that the
Cockie mineralised trend has the potential to host a significant copper-gold-silver (Cu-Au-Ag)
mineralised system, as well as being highly prospective for Balcooma-style base metal deposits (zinc,
copper).
These early results, were taken from 990 regional soil samples on a 200m x 50m grid include;
Cockie Trend Anomaly - A 4.5km long copper, gold, silver (Cu-Au-Ag) soil anomaly to the north and
south of the Cockie Prospect, open along-strike.
o Peak soil results included 800ppm Cu, 117 ppb Au and 600 ppb Ag.
Corella Anomaly - A 2.6km long zinc, cobalt, copper (Zn-Co-Cu) anomaly east of Cockie, the area is a
new discovery and appears to be hosted in felsic volcanics of the Lucky Creek Group, similar to those
that host the Balcooma Zn-Cu deposits 15km to the west. The anomaly is open to the south.
o Peak soil test results include 300ppm Zn, 600ppm Co and 300ppm Cu. This anomaly
also contained sporadic elevated silver, gold and uranium values.
Beacon Minerals has over 22km of potentially mineralized strike along the Cockie Trend to explore.
www.beaconminerals.com
The anomalies are presented in Map 1. They have been contoured +100ppm Cu, 10ppb Au, 50ppm Zn
and 50ppm Co. These values are at least two to five times greater than background. The Cockie Trend
soil anomaly occurs proximal to and within the porphyritic Cockie Springs Tonalite. Rock chip samples
collected by Beacon in October 2006 that returned values to 5.4% Cu also lie within the soil anomaly.
In all, a total of over 3000 samples comprise the initial regional program, and exploration has
recommenced after the Christmas break. The current program includes both regional and infill sampling
designed to further define the Cockie Trend and Corella soil anomalies prior to drilling.
All results from the RC drilling programme completed at the Cockie Prospect in late 2006 are also
expected in the next 1-2 weeks. A total of eleven (11) holes are outstanding. Results including 34m @
1.0% Cu from 8 metres were reported to the market on 27th November from the first three drill holes
(CRC0001-003). The area drilled represents only 4% of the total target area.
Attachments:
1. Map of Greenvale Soil Sampling Results
2. Map of Greenvale Project
For further information contact Lyle Thorne on 08-9476 9200 or visit the Company’s website at
www.beaconminerals.com.
Lyle Thorne
Managing Director
In accordance with Listing Rules 5.6 of the Australian Stock Exchange, the technical information
contained in this report has been compiled by Mr. Lyle Thorne, a full time employee of Beacon Minerals
Ltd. Mr. Thorne is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has
the relevant experience with the mineralisation reported on to qualify as a Competent Person as
defined by the Australasian Code for Reporting of Mineral Resources and Reserves. Mr. Thorne
consents to the inclusion in the report of the matters based on the information in the form and context in
which it appears.
www.beaconminerals.com
www.beaconminerals.com

[Thumpa]

BCN starting to awake again . Consolidation period may be over following rights issue at 2.2cents and leading in to another round of drilling shortly.

[Corporate]

Biggest volume today in the history of BCN. I'm in for a fair chunk of the options :-)

[Ponda]

Biggest volume today in the history of BCN. I'm in for a fair chunk of the options :-)

Welcome in Corporate,
I've held for a couple of months now. Picked it for the share comp and think that we are just at the start.
Huge activity today following on from the 'speculator' recommendation.
The assay results should be released in the next few days. Apparently Beacon have the results and are preparing a report for the market so we should see a lot more activity soon.

The BCNOA's are lagging a bit behind the heads.
BCNOA has a strike price of one cent and exercise date is the 31/08/2010

Good trade winds


DISCL Hold BCNOA (amongst others)

[Corporate]

Welcome in Corporate,
I've held for a couple of months now. Picked it for the share comp and think that we are just at the start.
Huge activity today following on from the 'speculator' recommendation.
The assay results should be released in the next few days. Apparently Beacon have the results and are preparing a report for the market so we should see a lot more activity soon.

The BCNOA's are lagging a bit behind the heads.
BCNOA has a strike price of one cent and exercise date is the 31/08/2010

Good trade winds


DISCL Hold BCNOA (amongst others)

Hey Ponda, I jointed the party a month or so ago too! BCN looked to good to ignore.

I've got my fair share of BCNOA. They should be trading at a premium to the heads..slight strange that they aren't.

[COLIN]

I've got my fair share of BCNOA. They should be trading at a premium to the heads..slight strange that they aren't.

Yes, very strange. There are heaps of option sellers at 2.1 and under, which would make me rather wary.

[STRAT]

Hey Ponda, I jointed the party a month or so ago too! BCN looked to good to ignore.

I've got my fair share of BCNOA. They should be trading at a premium to the heads..slight strange that they aren't.

I had a look at these too when Steve started his options thread but they ran before I got my **** in a pile.
Went with ATIO and AVBOB instead. Looked like I had chosen well until yesterday . Well done fellas. I bet you cant wait to see what todays trading produces

[Ponda]

Hi STRAT,
The early morning orders are looking good for another good run, but yet again I am waiting for a company to report results.
(P.S. ORO haven't released theirs yet GRRR but at least they are still coming)

[steve fleming]

Am still holding a number (free carried) of BCNOA, from $0.005.

But can't see any value in BCN at this level.

You would be buying at these prices on technicals only.

Market cap of $22mil, and a tiny JORC (which they spent 3 years drilling for) of only 74,000 oz??

Compare the fundamentals to EKM, Market cap of $24mil, with a JORC of approx 1 mil oz due to be upgraded in next couple of weeks (plus a JORC'd Uranium resource as well).

BCN was good value last year when it had a market cap of less than $5mil....i am not so sure at the moment, but happy to be proven wrong.